- Three staff of a Tsim Sha Tsui cryptocurrency retailer have been detained for allegedly defrauding a buyer with counterfeit “hell banknotes”.
- The sufferer transferred USDT price HK$1 million, however the suspects failed to supply the agreed money, resulting in their arrest.
- The HKPF seized 3,000 hellish notes and suggested residents to make use of licensed exchanges and test notes to keep away from fraud.
In keeping with stories from the Hong Kong Police (HKPF), three staff of an change workplace in Tsim Sha Tsui have been detained after being accused of a cryptocurrency rip-off.
As revealed by the South China Morning Publish, the incident got here to gentle when a 35-year-old man reported to police on April 12 that he was unable to get money after exchanging round HK$1 million price of Tether (USDT) digital foreign money. ) within the store.
In keeping with the grievance, the client was proven wads of “hell cash” earlier than making the transaction. For readability, hell notes are celebratory currencies utilized in conventional Chinese language rituals as choices to ancestors or deities.
Following the report, the HKPF's Expertise Crime Division arrested three males aged 31 to 34 on Wednesday. In the course of the raid, members of the safety forces seized 3,000 hellish banknotes, a protected and a pc on the premises.
Additional investigation revealed that the suspects allegedly introduced bundles of HK$500 “hell notes”, prompting the sufferer to switch roughly HK$1 million price of USDT (Tether) to their crypto pockets.
After this switch, the suspects allegedly made varied excuses, refused at hand over the agreed money and subsequently left the scene.
Beneath Hong Kong regulation, these convicted of fraud withstand 14 years in jail. As well as, an offender who’s discovered responsible of acquisition underneath pretext can withstand 10 years in jail.
In the meantime, the HKPF urged residents to transact by licensed and approved cryptocurrency exchanges. Additionally they careworn the significance of fastidiously checking banknotes for the presence of security measures so as to not fall sufferer to such fraud. As well as, the case is underneath investigation.
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